Author
Topic: Video Production Start up Loan (Read 408 times)

Hello, Iím Drew Baum and Iím seeking a loan for my business. I am requesting for $20,000 with 25% interest for 5 months.

Iím an 18 year old business entrepreneur. My business is Baum Media and Photography. We are a video production company that films and produces corporate videos for local businesses along with photographing many local events. Since launching in March of 2017 Iíve done $54,000 in revenue, of which $29,000 came in Q4 alone. Weíre on track to double our event bookings and paid corporate videos in the first half of 2018. $6,000 of this loan will be used to begin a marketing campaign to the greater Indianapolis metro area. The other $14,000 will be used to purchase much needed film equipment and software to keep up with my competitors. These 2 things are necessities to continue growth moving into 2018.

I look to keep this loan process as transparent as possible. This loan will be secured with a legally binding contract and collateral which includes my most expensive production camera (Red Epic-W 8K S35 [$29,000 new]). This is for your peace of mind so you know your investment is secure. I would like to thank you in advance for any help you might be able to offer.

Sincerely, Drew Baum

(With me only being 18 and my lack of credit, no bank or major lending institution is willing to lend me the money I need to grow. One bank did accept me, but with an outrageous interest rate of 36%. 25% is my target. )